Pre-pack deal saves jobs at civil engineering firm

Civil engineering company All Foundations has gone through a pre-pack administration, saving 35 jobs.

The Derbyshire piling contractor was hit by “significant disruption” to its revenues during the pandemic.

It has been taken over by Founda, a company whose directors include All Foundations’ managing director Shahrooz Zojaji.

Joint administrators John Lowe and Yasmin Bhikha from FRP completed the pre-pack sale of All Foundations (UK).

In a statement, FRP said: “The business experienced significant disruption to its revenues and cashflow since the start of the COVID-19 pandemic due to the impact on the wider construction industry, which led to the insolvency.

“Upon appointment of the joint administrators, the business and assets were sold through an accelerated merger and acquisition process. The transaction has secured the future of the business and enabled the TUPE transfer of all 35 employees. The business continues to trade and operate.”